Description of item:The white gold ring above is stamped 18KT and has a single row of 12 Baguette
Sapphires described in detail above, with two rows of Ten (10) diamonds each, described in
detail above, set on either side of the Sapphires. The total estimated weight of the
diamonds and sapphires is 2.80CTW. The total estimated piece weight is 8.9 grams.

Estimated
Retail Replacement Value $1976.00

Description
of item:The yellow gold ring above is stamped 14K and has a Natural Blue Sapphire described
in detail above, set in a white gold four prong mount with 16 Natural Diamonds,
described in detail above, set on either side of the Sapphire. The total estimated carat
weight is 3ct. The total piece estimated weight is 7.2 grams.

Estimated Retail Replacement Value $2598.00

Reports are supplied at the request of the
customer and it is for the customer's exclusive use. Reports express an opinion of the
time of the examination of the jewelry. This report is for customers use only for the
following two purposes, indicating estimated retail replacement value to obtain insurance
coverage, or for the purpose of providing geological information. GoldSmith Works does not
guarantee that the appraisal valuation will result in a sale at the price. Estimated
retail replacement value is arrived after analyses of what the approximate high retail
cash asking price is for labor, materials, and design. These prices may be substantially
higher than actual transaction or warranty with regards to any item described in the
report, since jewelry grading is not an exact science, this report represent the
best opinion of the company. GoldSmith Works is in no case responsible for differences
that occur by repeated grading by other experts in the field and/or use of other
standards, norms, methods or criteria other than those used by GoldSmith Works. GoldSmith
Works is expressly held harmless by customers including, but with out limitation for any
claims or actions that may arise out of negligence in connection with the preparation of
this laboratory report, or actions based upon the customer's use of the report. The
information on the carat weight, clarity grade, color grade on the report is approximate
due to the limitations in jewelry grading. The item was tested, graded, and examined under
10x magnification using the techniques and equipment available to GoldSmith Works,
including fully corrected triplet loupe, binocular microscope, master color comparison
guides, diamond color comparison tools, electronic carat balance, non-contact optical
measuring device, and ancillary instruments necessary at the time of Examination.